Time limit: 0
Quiz Summary
0 of 3 questions completed
Questions:
Information
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading…
You must sign in or sign up to start the quiz.
You must first complete the following:
Results
Quiz complete. Results are being recorded.
Results
0 of 3 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 point(s), (0)
Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)
Categories
- Not categorized 0%
-
You can click “View Questions” below to see which questions you answered right (or wrong)
- 1
- 2
- 3
- Current
- Review
- Answered
- Correct
- Incorrect
-
Question 1 of 3
1. Question
Used Car “Retail” Dealers must have a Surety Bond valued at:
CorrectIncorrectHint
All Dealers must have a Surety Bond valued on their license type and provide proof:
- OL 25 New or Used Auto-Commercial Dealer ($50,000)
- OL 25B Motorcycle Dealer, Motorcycle Lessor-Retailer, All-Terrain Vehicle Dealer, or Wholesale-Only Dealer (Less Than 25 Vehicles Per Year) $10,000
-
Question 2 of 3
2. Question
Dealers must renew their license every two years and should complete and submit the following to renew their license:
- Renewal Application (DMV form OL 45)
- Proof of Continuing Education
- Proof of Surety Bond ($10k or $50k as needed for your License)
CorrectIncorrectHint
Dealers should complete and submit the following to renew their license:
- Renewal Application (DMV form OL 45)
- Proof of Continuing Education
- Proof of Surety Bond
- Payment of Renewal Fees
-
Question 3 of 3
3. Question
A Dealer’s License and Special Plate are automatically canceled when:
- the Dealer abandons their place of business without giving proper, immediate notice to the DMV
- the Dealer fails to maintain an adequate Surety Bond
- the person designated as the Dealer has changed -or- the Corporate status of the Dealer is suspended or revoked
- the Board of Equalization suspends or revokes the Dealer’s Seller’s Permit
CorrectIncorrectHint
A Dealer’s License and Special Plate are automatically canceled when:
- the Dealer abandons their place of business without giving proper, immediate notice to the DMV
- the Dealer fails to maintain an adequate Surety Bond
- the person designated as the Dealer has changed -or- the Corporate status of the Dealer is suspended or revoked
- the Board of Equalization suspends or revokes the Dealer’s Seller’s Permit
